Brokerages Anticipate EPAM Systems, Inc. (EPAM) Will Announce Quarterly Sales of $341.44 Million
Brokerages expect EPAM Systems, Inc. (NYSE:EPAM) to post $341.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for EPAM Systems’ earnings. The highest sales estimate is $343.20 million and the lowest is $340.19 million. EPAM Systems reported sales of $283.83 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, August 3rd.
On average, analysts expect that EPAM Systems will report full year sales of $341.44 million for the current year, with estimates ranging from $1.40 billion to $1.42 billion. For the next financial year, analysts anticipate that the company will post sales of $1.69 billion per share, with estimates ranging from $1.65 billion to $1.74 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover EPAM Systems.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, May 4th. The information technology services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.22. The company had revenue of $324.65 million during the quarter, compared to analyst estimates of $316.64 million. EPAM Systems had a net margin of 8.11% and a return on equity of 11.70%. EPAM Systems’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS.
A number of brokerages recently weighed in on EPAM. Credit Suisse Group began coverage on EPAM Systems in a report on Tuesday, July 4th. They set an “outperform” rating and a $90.00 price objective on the stock. Wedbush boosted their target price on EPAM Systems from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Barclays PLC boosted their target price on EPAM Systems from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, May 15th. Monness Crespi & Hardt boosted their target price on EPAM Systems from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price (up from $82.00) on shares of EPAM Systems in a research report on Friday, May 5th. Eight research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $86.25.
In related news, insider Elaina Shekhter sold 2,875 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $80.63, for a total value of $231,811.25. Following the completion of the transaction, the insider now owns 12,219 shares of the company’s stock, valued at $985,217.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ginger Mosier sold 26,055 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $85.65, for a total value of $2,231,610.75. Following the completion of the transaction, the senior vice president now directly owns 12,733 shares of the company’s stock, valued at approximately $1,090,581.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,164 shares of company stock valued at $6,935,396. Insiders own 6.17% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of EPAM Systems by 1,762.5% in the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock worth $175,000 after buying an additional 1,974 shares in the last quarter. Sheets Smith Wealth Management purchased a new position in EPAM Systems during the second quarter worth approximately $309,000. Legato Capital Management LLC increased its position in EPAM Systems by 1,422.7% in the second quarter. Legato Capital Management LLC now owns 12,258 shares of the information technology services provider’s stock worth $1,031,000 after buying an additional 11,453 shares in the last quarter. Aperio Group LLC purchased a new position in EPAM Systems during the second quarter worth approximately $212,000. Finally, Creative Planning increased its position in EPAM Systems by 31.8% in the second quarter. Creative Planning now owns 2,659 shares of the information technology services provider’s stock worth $224,000 after buying an additional 641 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.
EPAM Systems (NYSE:EPAM) traded up 0.32% during mid-day trading on Thursday, reaching $85.84. 52,648 shares of the company’s stock were exchanged. The company’s 50-day moving average is $83.61 and its 200 day moving average is $75.80. EPAM Systems has a one year low of $54.53 and a one year high of $86.97. The firm has a market capitalization of $4.45 billion, a P/E ratio of 46.15 and a beta of 0.99.
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EPAM Systems Company Profile
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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